RDA Financial Network raised its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 4.3% in the second quarter, Holdings Channel reports. The firm owned 4,208 shares of the oil and gas company’s stock after purchasing an additional 172 shares during the period. RDA Financial Network’s holdings in Chevron were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Secure Asset Management LLC grew its stake in shares of Chevron by 15.7% during the 1st quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after acquiring an additional 593 shares during the period. Rothschild Investment Corp IL grew its stake in shares of Chevron by 0.6% during the 2nd quarter. Rothschild Investment Corp IL now owns 134,756 shares of the oil and gas company’s stock worth $19,510,000 after acquiring an additional 748 shares during the period. S.C. Financial Services Inc. grew its stake in shares of Chevron by 12.3% during the 2nd quarter. S.C. Financial Services Inc. now owns 3,880 shares of the oil and gas company’s stock worth $562,000 after acquiring an additional 424 shares during the period. Guinness Atkinson Asset Management Inc grew its stake in shares of Chevron by 26.4% during the 1st quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock worth $1,033,000 after acquiring an additional 1,326 shares during the period. Finally, Sound Income Strategies LLC grew its stake in shares of Chevron by 15.9% during the 2nd quarter. Sound Income Strategies LLC now owns 2,879 shares of the oil and gas company’s stock worth $417,000 after acquiring an additional 395 shares during the period. Institutional investors own 69.30% of the company’s stock.
Analyst Upgrades and Downgrades
CVX has been the topic of a number of recent research reports. HSBC raised Chevron from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 20th. Bank of America increased their price objective on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Citigroup dropped their price objective on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Wells Fargo & Company increased their price objective on Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, August 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $172.00 price objective on shares of Chevron in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.20.
Chevron Price Performance
Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. During the same period in the prior year, the company earned $1.71 EPS. The company’s revenue was up 82.9% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 18.37 EPS for the current fiscal year.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 3.66%. Chevron’s payout ratio is 37.89%.
Insider Buying and Selling
In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares in the company, valued at $574,762. The disclosure for this sale can be found here. Insiders have sold a total of 141,732 shares of company stock worth $23,024,499 in the last ninety days. 0.32% of the stock is owned by insiders.
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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